Assurant, Inc. (NYSE:AIZ) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Assurant, Inc. (NYSE:AIZ) have received an average rating of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $209.00.

Several analysts have issued reports on AIZ shares. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. UBS Group upped their price target on Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Piper Sandler lowered Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 target price for the company. in a report on Thursday, August 22nd. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Finally, Bank of America lowered their price target on Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, July 11th.

Insider Buying and Selling

In other Assurant news, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the sale, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction on Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the sale, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Martin Jenns sold 1,500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the transaction, the executive vice president now owns 4,027 shares in the company, valued at approximately $717,329.51. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Institutional Trading of Assurant

Hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new stake in shares of Assurant during the 2nd quarter worth approximately $31,000. Richardson Financial Services Inc. boosted its holdings in shares of Assurant by 62.1% in the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 77 shares in the last quarter. Assetmark Inc. bought a new stake in Assurant during the 4th quarter worth approximately $44,000. Quarry LP acquired a new stake in Assurant during the 4th quarter valued at $51,000. Finally, Family Firm Inc. bought a new position in Assurant in the 2nd quarter valued at $51,000. Institutional investors own 92.65% of the company’s stock.

Assurant Stock Down 0.5 %

Shares of AIZ opened at $198.90 on Tuesday. Assurant has a fifty-two week low of $141.83 and a fifty-two week high of $201.55. The company’s fifty day moving average is $186.48 and its two-hundred day moving average is $178.01. The firm has a market cap of $10.34 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.68 and a beta of 0.57. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.42.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.50. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.89 billion. Assurant had a net margin of 6.90% and a return on equity of 19.63%. Assurant’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.89 earnings per share. Analysts forecast that Assurant will post 16.54 earnings per share for the current year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Tuesday, September 3rd. Assurant’s dividend payout ratio (DPR) is currently 20.10%.

About Assurant

Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.